{"@type":"StructuredNewsArticle","access":{"license":"neupai_standard","structured_data":"free","full_text_access":null,"full_text_available":false,"attribution_required":true},"content":{"claims":[{"id":"c1","type":"fact","as_of":"2026-05-11","figures":null,"insight":null,"as_of_raw":"on the 11th","statement":"The Digital Convergence Industry Association held a 'Token Securities (STO) Issuance and Distribution Activation and Digital Asset Development Policy Seminar' at the Korea Financial Investment Association Bulls Hall in Yeouido, Seoul","comparison":null,"expiry_hint":null,"source_type":"company_disclosure","as_of_explicit":true},{"id":"c2","type":"fact","as_of":"2026-05","figures":null,"insight":null,"as_of_raw":"May 2026","statement":"In the global market, tokenization of standardized financial assets such as stocks, bonds, money market funds (MMF), and government bond funds is rapidly progressing","comparison":null,"expiry_hint":null,"source_type":"industry_estimate","as_of_explicit":false},{"id":"c3","type":"fact","as_of":"2026-05","figures":null,"insight":null,"as_of_raw":"May 2026","statement":"Tokenized funds are functioning as on-chain payment, collateral, and liquidity infrastructure beyond simple investment products","comparison":null,"expiry_hint":null,"source_type":"journalist_analysis","as_of_explicit":false},{"id":"c4","type":"opinion","as_of":"2026-05","figures":null,"insight":{"reasoning":"Building institutions and infrastructure that make technology work in the market is the core of competition","sentiment":"neutral","confidence":"medium","analyst_name":"이강일","forecast_horizon":"medium_term","analyst_affiliation":"더불어민주당"},"as_of_raw":"May 2026","statement":"Substantial market formation is possible only when digitization of assets and digitization of money are connected","comparison":null,"expiry_hint":null,"source_type":"government_official","as_of_explicit":false},{"id":"c5","type":"opinion","as_of":"2026-05","figures":null,"insight":{"reasoning":"Structural limitations exist in the non-standardized asset-based STO market","sentiment":"neutral","confidence":"high","analyst_name":"김지원","forecast_horizon":"medium_term","analyst_affiliation":"KB증권"},"as_of_raw":"May 2026","statement":"After STO legislation, the most important question is not 'has it been issued' but 'can we create a market where actual transactions take place'","comparison":null,"expiry_hint":null,"source_type":"industry_estimate","as_of_explicit":false}],"topics":["blockchain","token securities","fintech","digital assets","stablecoin"],"summary":"The Digital Convergence Industry Association and others held a token securities (STO) policy seminar, diagnosing that the core of the token securities market is shifting from simple issuance to building distribution, payment, and settlement infrastructure.","entities":[{"name":"Digital Convergence Industry Association","type":"organization","metadata":{"parent":null,"ticker":null},"canonical_id":"org:kr:dcia","role_in_article":"primary_subject"},{"name":"Korea Web3 Blockchain Association","type":"organization","metadata":{"parent":null,"ticker":null},"canonical_id":"org:kr:kwba","role_in_article":"mentioned"},{"name":"Blockchain Convergence Technology Forum","type":"organization","metadata":{"parent":null,"ticker":null},"canonical_id":"org:kr:bctf","role_in_article":"mentioned"},{"name":"KOSCOM","type":"company","metadata":{"parent":null,"ticker":null},"canonical_id":"corp:kr:koscom","role_in_article":"mentioned"},{"name":"Bitoz","type":"company","metadata":{"parent":null,"ticker":null},"canonical_id":"corp:kr:bitoz","role_in_article":"mentioned"},{"name":"FairSquare 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Byung-hwa","type":"person","metadata":{"parent":null,"ticker":null},"canonical_id":"person:kr:im-byeong-hwa","role_in_article":"quoted"},{"name":"BlackRock","type":"company","metadata":{"parent":null,"ticker":"BLK"},"canonical_id":"corp:us:blackrock","role_in_article":"mentioned"},{"name":"Franklin Templeton","type":"company","metadata":{"parent":null,"ticker":"BEN"},"canonical_id":"corp:us:franklin-templeton","role_in_article":"mentioned"},{"name":"KB Securities","type":"company","metadata":{"parent":"corp:kr:kb-financial-group","ticker":null},"canonical_id":"corp:kr:kb-securities","role_in_article":"mentioned"}],"headline":"Token securities competition shifts from issuance to distribution and payment 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